Foreclosure : ezLandlordForms

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Charles D

started a topic over 12 years ago

I have just purchased a foreclosed home. The owner wants to stay there for one month. I do plan to refurbish the home and get a new tenant however can I have her sign an agreement that states she will stay there for one month with home as is. I also don't want to accept liablities as the home is in very bad condition?

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Curtis B

said over 12 years ago

I wouldn't do it. Once you buy the home you are responsible for it.

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Bob R

said over 12 years ago

I agree with Curtis. Make sure the owner has moved out before you close. If they couldn't pay the mortgage, what make you think they could afford the rent. Also, if they don't move when agreed to, it will take you months to have them evicted.-----Disclaimer: Since I’ve been answering a lot of questions, I thought I would make the following statement. I’m not affiliated with EZlandlord Forms. I’m just here (not sure how long) to help those that have questions. Having 40+ yrs with Rental Property and done well, it’s my way of “Pay it Forward (check out the movie).” However, it is up to you to become familiar with your State/Local laws. I always like to know if the suggestions I offer are helpful. Feel free to comment anytime. Thanks in Advance.